SembMarine unlikely to hit CGS-CIMB's $2 bil order target

SINGAPORE (Oct 18): CGS-CIMB Securities does not expect Sembcorp Marine to meet the house's $2 billion and Street's $2-3 billion order target for 2018.

In a Thursday report, analyst Lim Siew Khee thinks a more achievable figure is $1-1.5 billion and on a $1 billion order assumption for 2018, our earnings for FY19F-20F could be reduced by 6% p.a.

"We are leaving our numbers unchanged for now," says Lim although year to date, SembMarine has only clinched $730 million of orders.

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